Maritrans Inc.

Maritrans Inc. is listed on NYSE (TUG). Maritrans Inc. and its subsidiaries (the Company, the Registrant or Maritrans), serve the petroleum and petroleum product industry by using tank barges, tugboats and oil tankers to provide marine transportation services primarily along the East and Gulf Coasts of the United States. The Company makes available, free of charge, all filings made with the Securities and Exchange Commission as soon as reasonably practicable on our website www.maritrans.com. Reference to our URL is intended to be an inactive textual reference only. Structure Overview. Maritrans is a Delaware corporation whose common stock, par value $.01 per share (Common Stock), is traded on the New York Stock Exchange. The Registrant conducts most of its marine transportation business activities through Maritrans Operating Company L.P. and its managing general partner, Maritrans General Partner Inc. Both entities are wholly owned subsidiaries of the Registrant.

Markel Corporation

Markel Corporation is listed on NYSE (MKL). Markel Holdings, Inc. was incorporated as a Virginia corporation on August 25, 1999. As of the date of this report it is a wholly owned subsidiary of Markel Corporation and has conducted no operations. Markel Holdings was formed to facilitate an Agreement and Plan of Merger and Scheme of Arrangement dated August 15, 1999, as amended, among Markel Corporation and Terra Nova (Bermuda) Holdings, Ltd. which, when consummated, will result in both Markel Corporation and Terra Nova being wholly owned subsidiaries of Markel Holdings. After the transaction Markel Holdings will change its name to Markel Corporation and its common shares will trade on the New York Stock Exchange under the symbol MKL. Under the agreement, Terra Nova shareholders will be entitled to receive, for each ordinary share, $13.00 in cash, 0.07027 of a common share of Markel Holdings and 0.07027 of a contingent value right (CVR) of Markel Holdings.

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